SINGAPORE : Rickmers Maritime, Singapore's third largest shipping trust, has seen strong interest for its initial public offering (IPO).
Its public tranche has been 10.2 times oversubscribed, while 2.6 times more institutional investors applied for the placement tranche.
Rickmers had priced its units at S$1.57 each - towards the top end of its indicative range.
The price works out to a possible yield of some 8.2 percent.
Rickmers offered about 170 million units for the IPO - or about 45 percent of its total outstanding units.
The units are expected to start trading this Friday.
Its public tranche has been 10.2 times oversubscribed, while 2.6 times more institutional investors applied for the placement tranche.
Rickmers had priced its units at S$1.57 each - towards the top end of its indicative range.
The price works out to a possible yield of some 8.2 percent.
Rickmers offered about 170 million units for the IPO - or about 45 percent of its total outstanding units.
The units are expected to start trading this Friday.
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